University of Michigan endowment grows to $7.1 billion

By: The Associated Press
By: The Associated Press

The University of Michigan's endowment has grown from $5.7 billion to $7.1 billion in the 2007 fiscal year.

The Ann Arbor school's chief financial officer, Tim Slottow, says the endowment provides a permanent stream of funds to support educational programs and research.

Michigan says its endowment is now the ninth-largest in the country and third-largest among public universities.


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